B&G Foods (BGS) Stock Moves -0.93%: What You Should Know
In the latest trading session, B&G Foods (BGS) closed at $31.02, marking a -0.93% move from the previous day. This change was narrower than the S&P 500's 2.45% loss on the day. Meanwhile, the Dow lost 1.75%, and the Nasdaq, a tech-heavy index, lost 3.52%.
Coming into today, shares of the food producer had lost 23.73% in the past month. In that same time, the Consumer Staples sector gained 0.41%, while the S&P 500 gained 2.32%.
BGS will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2021. The company is expected to report EPS of $0.44, up 57.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $525.63 million, up 11.8% from the year-ago period.
Any recent changes to analyst estimates for BGS should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.73% lower. BGS is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, BGS is holding a Forward P/E ratio of 13.09. This valuation marks a discount compared to its industry's average Forward P/E of 21.83.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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